Friday, March 20, 2015

NJ Public Employee Pensions Among Nation's Highest

NJ Retirees Receive One Of The Highest Annual Benefit Payments

·         The average public employee retiree in New Jersey will receive a pension of over $30,000 this year from the State  à making New Jersey one of 8 of the states with the highest benefit payments.

·         The national “average annual benefit payment for state- and locally-administered pensions (total benefit payments divided by the number of beneficiaries) for the United States was $26,128 in 2013.” (Phillip Vidal, “Annual Survey of Public Pensions: State- and Locally Administered Defined Benefit Data Summary Report: 2013,” United States Census Bureau, February 2015)

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